A multi-phase, switch mode power supply (SMPS) power converter is particularly suitable as a voltage regulating power supply for space-constrained applications in which greater power density and conversion efficiency are desired. These desirable output characteristics invoke the use of high permeability magnetic materials in the phase inductors as well as techniques for miniaturization of the inductors and the overall packaging of the power converter. A typical dc-dc power converter includes the following components: an SMPS controller that implements for example a buck conversion topology to also achieve voltage regulation at an output node, power stage control circuitry that converts a pulse width modulation (PWM) signal from the SMPS controller into two or more phase driver control signals each of which is input to a respective phase driver circuit, a number of power stages each to be controlled by the outputs of a respective phase driver circuit, a number of phase inductors, an output filter capacitor, a current sense resistor to measure load current of the converter, and voltage feedback paths from the sense resistor back to the power stage control circuitry. It is a difficult problem to design such a power converter to have a certain output power rating and to also fit within a specified volume of space.